Neometals to Provide Funding, Services to Novana for Finnish Vanadium Recovery Project

MT Newswires Live

Feb 14

Neometals (ASX:NMT) announced the execution of a project agreement providing additional funding and services to Novana, in which it holds an indirect stake of 87.1% through Recycling Industries Scandinavia, according to a Friday Australian bourse filing.

Novana is commercializing Neometals' vanadium recovery process through the development of the Finnish vanadium recovery project, the filing.

Recycling Industries executed a project agreement with EIT RawMaterials to provide a second tranche of funding to support the development of the project.

Under the agreement, EIT RawMaterials will provide Novana with a second capital injection of 494,000 euros in grant funding and in turn, be issued an additional 1.1% stake in Recycling Industries at a pre-money valuation of 50 million euros. This will bring its stake in the firm to 2.2%.

The firm's shares rose over 8% on market close on Friday.

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This will bring its stake in the firm to 2.2%.</p><p>The firm's shares rose over 8% on market close on Friday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7095","symbol_name":"多种金属与采矿","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2511639925","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2511639925","pubTimestamp":1739513599,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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